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Central Oregon Market Report - January 17, 2023


Looking ahead to the 2024 market

 


 

The outlook for our 2024 market here in Central Oregon continues to evolve. With varied predictions on interest rates, inventory and economic factors, it remains difficult to predict exactly how 2024 will unfold. That being said, we can use overall trends to see the general direction in which we are headed. Bend's housing market experienced an uptick towards the end of the year with a drop in mortgage rates and the supply of homes for sale remains low. Several first-time buyers and those looking to move laterally here in town are feeling hesitant due to the quick changes in the market climate. I anticipate a continued upward push of average sales price for single-family homes, but hopefully rates will come down a bit to allow for more affordability in monthly payments. Just remember that rates and prices ebb and flow with one another and if you wait on the sidelines for too long, you may find yourself priced out of the market you'd like to live in. Cash buyers are still very active in our market and are unaffected by fluctuating interest rates and the persistently low inventory. Pick a strategy that works for you and decide whether now is the time to act or not. If you're looking for guidance on how to make your move come to fruition, give me a call! - Greg


 


2 Reasons Why Today’s Mortgage Rate Trend Is Good for Sellers

If you’ve been holding off on selling your house to make a move because you felt mortgage rates were too high, their recent downward trend is exciting news for you. Full Article



Asian food market Tomi Mart announces future Bend location

It’s been rumored around town for a while, but there is now a confirmed location for an Asian food market in Bend. Full Article

 

What's new with Mortgage Rates?

This is a scenerio for top tier borrowers with 20% down and great credit. These rates and better can also be seen for other borrowers by using seller credits!



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